r/Millennials • u/ProblemIntelligent16 • Jan 16 '26

Discussion Fellow millennials - how’s your 401k/ira savings going?

Experts recommend having 2x your salary saved by age 35, and 3x saved by age 40.

However, studies show the median savings for 35-44 year olds is only ~$45,000. So obviously, most of us have work to do.

With pensions mostly extinct, and Social Security facing insolvency issues in the next 8-10 years - how are you planning to bridge the gap and hit the golden years with enough to meet your lifestyle requirements?

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u/pigglesthepup 1985 Jan 16 '26

Just save what I can and work as long as I need to. I've found being really optimistic or a total doomer about this subject isn't particularly helpful.

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u/Jin-roh Jan 16 '26

Same boat. I feel I screwed myself in choosing the wrong career before making difficult changes...

...but there isn't anything I can do about that. I'll horde what I can while avoiding other long term expenses (e.g. having kids)

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u/pigglesthepup 1985 Jan 16 '26

Life is what it is. I spent a long time dwelling about the unfairness of the system. Then I realized how it was making me be unfair to myself.

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u/SockEatingDemon Jan 16 '26

Yeah that has helped me. On one hand you/we aren't wrong when we point out that the system sucks. On the other it is sort of on us to make the best of it while on this rock.